Royal Caribbean Cruises (NYSE:RCL) PT Raised to $204.00

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by Truist Financial from $175.00 to $204.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 14.92% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Bank of America upped their price objective on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Barclays increased their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price target on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Tigress Financial lifted their target price on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $184.13.

Royal Caribbean Cruises Stock Down 2.9 %

Shares of RCL opened at $177.51 on Thursday. Royal Caribbean Cruises has a 12-month low of $78.35 and a 12-month high of $184.41. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The company has a market capitalization of $45.68 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.50 and a beta of 2.61. The business’s 50 day moving average is $161.41 and its 200 day moving average is $150.68.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. Royal Caribbean Cruises’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 earnings per share. Research analysts expect that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Naftali Holtz bought 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the transaction, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently made changes to their positions in RCL. D1 Capital Partners L.P. grew its stake in Royal Caribbean Cruises by 105.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after purchasing an additional 777,103 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $79,392,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $66,279,000. Dimensional Fund Advisors LP lifted its stake in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in Royal Caribbean Cruises during the fourth quarter worth approximately $47,950,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.